SM to open its first mall in Camarines Norte

SM Prime Holdings, Inc. will be launching its first mall in the Camarines Norte province on Friday, which will also be its third mall in the Bicol Region.

SM City Daet will add 47,000 square meters (sq.m.) of gross floor area in SM Prime’s mall portfolio.

“We hope that the opening of this mall, with safety protocols in place, will provide convenience, comfort and entertainment to our fellow Bicolanos in Camarines Norte,” Jeffrey C. Lim, president of SM Prime, said in a statement on Wednesday.

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SM Prime’s newest mall is located along Vinzons Avenue in Barangay Lag-on.

The mall will have three levels, featuring over 70% of space-lease awarded. It will be home to local and international brands, as well as SM staples such as The SM Store, SM Supermarket, SM Appliance, Miniso, Sports Central, Watsons, Surplus, Ace Hardware, and BDO.

SM City Daet will also have its own SM Foodcourt, Cyberzone and other shops focused on wellness, specialty stores, sports, and hobbies shops. Parking space is allotted for shoppers.

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The company said it will open SM City Daet’s SM Cinema and its other amusement centers once the government’s pandemic task force allows its operations.

“The opening of SM City Daet marks another milestone for SM Prime as we continue to weather the impact of the COVID-19 (coronavirus disease 2019) pandemic,” said Mr. Lim.

On Wednesday, shares of SM Prime Holdings at the stock exchange rose by 1.27% or 45 centavos to close at P35.80 apiece.

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Article was originally published in Business World and written by Keren Concepcion G. Valmonte.

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